Why More Germans Are Trading Cryptocurrencies

Germany has been at the forefront of the cryptocurrency revolution from the start – go back to 2013 and Berlin was dubbed the ’Bitcoin Capital of Europe’ by one UK newspaper. Since then, the enthusiastic adoption of Bitcoin and other cryptocurrencies has continued, and now many Germans are also trying their hand at trading or investing in cryptocurrencies.

IMAGE: PEXELS

Early Adopters

As well as being early adopters of the concept of cryptocurrencies, many Germans are also early adopters of using it in a variety of ways in real life. You can buy an apartment, book a holiday and even use it to pay for food and drink, in trendy bars across Berlin, with Bitcoin. The European School of Management and Technology (ESMT) in Berlin has become the first university to start accepting Bitcoin as a means of payment for its courses.

But it isn’t just Bitcoin that Germans have been quick to adopt. The ESMT is also willing to take payments in Ethereum, Litecoin, and Dash as well as Bitcoin, showing that it isn’t just the bigger names in cryptos that are getting all the attention. And, the university is also teaching some courses for people who want to learn more about cryptocurrencies and Initial Coin Offers (ICOs).

Real World Uses

The expansion into the real world is something that cryptocurrencies have desired from the start. And, with a growing number of businesses accepting them as legal currency to pay for goods, this means more people than ever are aware of the possibilities of the system.

Among the features that draw business users into accepting it is that it is pseudo-anonymous, hard to track user data and there’s no need to use a bank with its associated fees. Bitcoin and other cryptocurrencies can operate internationally and work the same in any country you visit.

Perhaps most interestingly is the recent decision by the German federal authority not to put a tax on purchases made with Bitcoin and other cryptocurrencies. This decision is believed to be to set a precedent across the EU. The decision was made because they now consider cryptocurrencies as a legal means of payment.

Popular Trading Options

While Bitcoin remains the most well-known of the cryptocurrencies, others are also creating a name for themselves. Recently, one of the largest exchanges in Germany began trading in Ethereum as well as Bitcoin. Many other trading platforms offer this and some other cryptocurrencies, showing that traders and customers want options.

Europe already has the third largest Ethereum market with trades accounting for 7.5% of global trades. The move is likely to be followed by other cryptocurrencies as their technology becomes well known and viewed as reliable.

Starting Cryptocurrency Trading

For anyone looking to start their cryptocurrency trading experience, now is a great time. While many people are investing in the currencies and looking at the potential long-term gain, many others are making the most of the natural volatility of these assets to make profits over a shorter time frame.

The key to trading with cryptos is that you use a reputable and easy to use platform. You may want to begin trading in some of the more prominent coins such as Bitcoin and Ethereum before considering some of the lesser known alternatives. And don’t worry about buying whole coins, you can trade or buy with fractions of coins which is much less expensive.

Start your cryptocurrency trading experience today and sign up for an account at Weiss Finance. It offers a secure and safe way to start your trading experience and join the others who are already profiting from and using these currencies.